Kaufman Hall Advises Ascension on Sale of Carondelet Health Assets
Last month, Carondelet Health in Kansas City, Mo., a part of Ascension, and Prime Healthcare ServicesInc., finalized their agreement for the acquisition by Prime of the majority of the facilities of Carondelet Health. Kaufman Hall served as exclusive strategic advisor to Ascension on the transaction.
The transaction includes St. Joseph Medical Center in Kansas City and St. Mary’s Medical Center in Blue Springs, Mo, as well as other assets of Carondelet Health.
The three Carondelet Health long-term care facilities – Carondelet Manor, Villa Saint Joseph and St. Mary’s Manor – and the two hospitals’ charitable foundations will remain part of Ascension.
“This agreement strengthens the ministry and ensures that its caring associates and physicians will be able to continue to meet the healthcare needs of the community,” said Robert J. Henkel, FACHE, Executive Vice President of Ascension and President and Chief Executive Officer of Ascension Health, in an October 2014 press release. “Ascension will continue to serve this community by providing senior services as part of Ascension Health Senior Care.”
Kaufman Hall was engaged to identify a partner who would uphold the Catholic mission of the ministry, provide additional capital for growth and expansion, and continue to serve the community with key acute care services. In this comprehensive process, Kaufman Hall approached a diverse group of potential partners. After a multi-phased process, Prime was chosen as the partner best aligned with Carondelet’s goals and objectives.
To learn more about how Kaufman Hall is assisting hospitals and health systems with merger and acquisition decisions, contact advisors Jim Blake or Courtney Midanek at 847.441.8780.